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OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY TO THE FAIRFIELD <br /> REDEVELOPMENT AGENCY <br /> RESOLUTION NO. OB2015- 03 <br /> A RESOLUTION OF THE OVERSIGHT BOARD FOR THE <br /> SUCCESSOR AGENCY TO THE FAIRFIELD REDEVELOPMENT <br /> AGENCY APPROVING A RECOGNIZED OBLIGATION <br /> PAYMENT SCHEDULE FOR THE SIX -MONTH FISCAL PERIOD <br /> FROM JULY 1, 2015 THROUGH DECEMBER 31, 2015, A <br /> PROPOSED ADMINISTRATIVE BUDGET AND TAKING <br /> CERTAIN RELATED ACTIONS <br /> WHEREAS, pursuant to Health and Safety Code Section 34177(1), the Successor <br /> Agency to the Fairfield Redevelopment Agency (the "Successor Agency must prepare <br /> a proposed Recognized Obligation Payment Schedule "ROPS before each six -month <br /> fiscal period (commencing each January 1 and July 1) and submit each proposed <br /> ROPS to the Oversight Board for the Successor Agency (the "Oversight Board for <br /> approval; and <br /> WHEREAS, Pursuant to Health and Safety Code Section 34177(I)(2)(C) and (m), the <br /> Successor Agency must (1) submit the Oversight Board approved ROPS for the six <br /> month fiscal period from July 1, 2015 through December 31, 2015 "ROPS 15- 16A to <br /> the Department of Finance (DOF), the Office of the State Controller, and the County <br /> Auditor Controller no later than March 3, 2015; and (2) post a copy of the Oversight <br /> Board approved ROPS 15 -16A on the Successor Agency's website; and <br /> WHEREAS, Pursuant to Health and Safety Code Section 34177(j), the Successor <br /> Agency to the Fairfield Redevelopment Agency (the "Successor Agency must prepare <br /> a proposed administrative budget for each six -month fiscal period (commencing each <br /> January 1 and July 1) and submit each proposed administrative budget to the Oversight <br /> Board for the Successor Agency (the "Oversight Board for approval; and <br /> WHEREAS, There has been presented to this Board for approval a proposed <br /> administrative budget for the Successor Agency for the six -month fiscal period from <br /> July 1, 2015 through December 31, 2015 "Administrative Budget 15- 16A <br /> NOW, THEREFORE, THE OVERSIGHT BOARD FOR THE SUCCESSOR AGENCY <br /> TO THE FAIRFIELD REDEVELOPMENT AGENCY, HEREBY RESOLVES: <br /> Section 1. The above recitals are true and correct and are a substantive part of this <br /> Resolution. <br />